Financial Ombudsman Service
As a Crowdcube investor you may benefit from the Financial Ombudsman Service (FOS), which is the official independent expert in settling complaints between consumers and businesses providing financial services. It looks at consumer complaints about a wide range of financial matters – from insurance and mortgages to savings and credit. It answers more than a million enquiries a year and deals with more than 250,000 disputes.
FOS is completely independent and impartial, supporting neither the business nor the consumer.
Financial Services Compensation Scheme (FSCS)
You may also be covered by the Financial Services Compensation Scheme (FSCS) is the UK's compensation fund of last resort for customers of authorised financial services firms. The FSCS may pay compensation if Crowdcube is unable, or likely to be unable, to pay claims against it – this is usually because the company has stopped trading or has been declared in default. The scheme applies to Crowdcube's activities only (post FCA authorisation, 01 Feb 2012) and would not cover investors in in the event investee firms were to fail.
The FSCS is independent of the government and the financial industry, and was set up under the Financial Services and Markets Act 2000, becoming operational on 1 December 2001. It does not charge individual consumers for using its service.
UK Crowdfunding Association
The UK Crowdfunding Association, or UKCFA, was formed in 2012 by twelve crowdfunding businesses, including Crowdcube. Our aims are to promote crowdfunding as a valuable and viable way for UK businesses, projects or ventures to raise funds; be the voice of all crowdfunding businesses in the UK (donations, loans and equity) to the public, press and policymakers and publish a code of practice that is adopted by UK crowdfunding businesses, that protects those participating in crowdfunding.
UK Business Angels Association
The UK Business Angels Association is the national trade association representing angel and early stage investment in the UK. (England, Wales and Northern Ireland). Each year private investors account for between £800 million and £1 billion of early stage investment in the UK – the single largest source of early stage capital in this country. The UK Business Angels Association represents and connects all those involved in the angel investment market, including early stage VC funds, Banks and also non traditional sources of finance, as well as advisers and intermediaries; policy makers and academics with a view to ensuring a coherent ecosystem for financing the growth of start-up and early stage businesses.
Innovate Finance is an independent membership-based industry organisation that aims to advance the UK’s standing as a leader in financial technology (fintech) innovation – both domestically and abroad. Members range from the world’s leading global corporations to the UK’s most promising fintech start-ups and, through Innovate Finance, will receive a single point of access to policymakers, regulators, investors, customers, educators, talent and key commercial partners. Membership is open to all businesses that have a technology-centric approach to innovation in financial services and a presence in the UK. The organisation has a current roster of over 50 member companies, which are pioneering new digital products and services across the following sectors: insurance, retail and investment banking, payments, remittance, crowdfunding, cloud computing, big data, analytics and alternative finance.